A week of sales closes for the securities of the real estate sector, listed in Piazza Affari and, in Europe, on the concerns for the effects that the commercial policy of the US duties will have on the global economy.
The focus of investors remains concentrated on the central banks, in particular, on the meeting of the Federal Reserveon the calendar next week, with the data on inflation in the United States that have strengthened the thesis of a next ease of monetary policy by the American Central Bank. However, the professionals are convinced that the Fed will not cut the rates, during the mid -March meeting, waiting to understand the impact of the duties policies.
Also on the other side of the ocean, in this context of geopolitical and economic uncertainty, the ECB It remains cautious, manifesting a certain reluctance to resort to more drastic cuts in the short term.
The trend of the sector on the stock exchange
The real estate sector on the Milanese square has lived a decidedly negative week, with the index FTSE ITALY All Share Real Estate which brings home a descent of over 6 percentage points, making worse than the sector, at European level, with The Stoxx 600 Real Estate index Flexion of about 2%.
Among the real estate companies listed in Piazza Affari, Live in it collapses by 25% while Rehabilitation Limit the drop to about 14%. Forgive 6% shares IGD and Aedes. Down 4.5% Next Re and Gabetti. In clear contrast Brioschi which leaps by 5%.
Macroeconomic data
On the macroeconomic front, in the USA the requests for weekly mortgages. In the week to 7 March 2025, the index that measures the volume of mortgage loan applications records an increase of 11.2%, after the increase of 20.4% of the previous week. The index relating to refinancing requests It increased by 16.2%, while that relating to the new questions rose by 6.9%. The Mortgage Bankers Associations (MBA) indicated that thirty -year mortgages rates dropped to 6.67% from 6.73% previous.
Sector studies
Banking rates on new mortgages to families in Italy continue, while rates on business loans also decrease. The overall credit dynamic is almost stable, with increases for families while continuing, while dampening the drop in loans to businesses. It is the photograph taken from the last investigation “banks and money”, published by Bank of Italy. In January, the interest rates on the loans paid in the month to families for the purchase of homes including accessory expenses (global effective annual rate, or Taeg) placed at 3.50 per cent, from 3.55 percent on December. Instead, the average rate on new consumer credit disbursements has risen to 10.50 percent, from 10.09 percent in the previous month. Interest rates on new loans to non -financial companies were 4.15 percent, Bankitalia still reports, from 4.40 in the previous month. Passive rates, on the complex of existing deposits, were 0.85 percent, from 0.89 in the previous month.
According to the analysis ofTecnocasa Group Study Office 19.4% of real estate sales, in the first part of 2024, was built for investment, a figure not far from the one recorded a year ago 19.6%. At national level, the annual lease returns remain interesting: for a 65 m2 two -room apartment in large Italian cities there is a yield equal to 5.6%, the metropolises that have the largest returns are: Genoa with 7%, Palermo with 6.9%, Verona with 6.5%.
